Hi, first up want to thank everyone for creating this incredible source of investing information.
I am looking to purchase my first property and have found one I really like. However there seems to be alot of talk about this year’s budget containing a package to ‘fix’ housing affordability issues, particularly for first home buyers. Would there be any merit to holding out until the budget is released? Does anyone have any insight into what the changes may be?
Thanks for your help.
I hear a lot of people say lines about waiting for the next budget, next RBA update, next report – and five years later they still have no properties and waiting for x to happen.
In the end there will be some form of uncertainty in life – that’s part of the risk on taking any action. If it’s a good investment and you believe it will do well, you’ll just have to ask whether you want to take the leap.
I think I’ve heard reference to government stating they will make changes to the next budget for housing affordability for years upon years.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Corey is right. I have a mate who old me he was waiting for Sydney prices to drop before buying. That was about 20 years ago and he is still waiting.
One potential issue with the budget is the removal of the 50% CGT discount. This could come in from the date of the budget night (Just guessing here) so buying before then may help you (or may not) lock in the 50% CGT discount moving forward.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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